Moroccan Overseas Investments Fall 37% in 2018

Chefchaouen, in the Moroccan Rif region. (AFP)
Chefchaouen, in the Moroccan Rif region. (AFP)
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Moroccan Overseas Investments Fall 37% in 2018

Chefchaouen, in the Moroccan Rif region. (AFP)
Chefchaouen, in the Moroccan Rif region. (AFP)

The net inflow of Moroccan overseas investments declined 37 percent in 2018 to $658 million, following a strong 74 percent rise in 2017, which stood at $1.04 billion.

Three countries attracted 60.4 percent of Morocco's total overseas investments in 2018: Luxembourg, which for the first time is the top foreign investment destination at $158.4 million, followed by the UAE at $127.5 million, which rose from fourth place in two years, then the Netherlands at $112 million.

Egypt fell to 14th place with a value of $26 million only in 2018, after it was at the top of Morocco's direct investment destinations in 2017 by about $360 million, after Morocco’s Attijariwafa Bank Group took over Barclays Bank of Egypt.

The Ivory Coast fell to fourth place in 2018, after it were second behind Egypt in 2017 and the first in 2016. It attracted $48 million of Moroccan foreign investment last year, down nearly 64 percent from a year earlier.

France, which was the first destination for Morocco's direct overseas investments before being ousted by the Ivory Coast in 2016, continued its decline to fifth place in 2018, reaching $37 million in 2018, a 36 percent decrease compared to 2017.



Saudi Arabia Makes History with Adoption of Riyadh Treaty on Design Law

Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)
Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)
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Saudi Arabia Makes History with Adoption of Riyadh Treaty on Design Law

Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)
Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)

Saudi Arabia has made history by uniting the 193 member states of the World Intellectual Property Organization (WIPO) to adopt the Riyadh Treaty on Design Law. This landmark achievement, realized after two decades of deliberation, underscores the Kingdom’s leadership in enhancing the global intellectual property system.

The announcement came at the conclusion of the Riyadh Diplomatic Conference on the Design Law Treaty, a rare event for WIPO, which has not held a diplomatic conference outside Geneva for more than a decade. It was also the first such event hosted in Saudi Arabia and the Middle East, representing the final stage of negotiations to establish an agreement aimed at simplifying and standardizing design protection procedures across member states.

Over the past two weeks, intensive discussions and negotiations among member states culminated in the adoption of the Riyadh Treaty, which commits signatory nations to a unified set of requirements for registering designs, ensuring consistent and streamlined procedures worldwide. The agreement is expected to have a significant positive impact on designers, enabling them to protect their creations more effectively and uniformly across international markets.

At a press conference held on Friday to mark the event’s conclusion, CEO of the Saudi Authority for Intellectual Property Abdulaziz Al-Suwailem highlighted the economic potential of the new protocol.

Responding to a question from Asharq Al-Awsat, Al-Suwailem noted the substantial contributions of young Saudi men and women in creative design. He explained that the agreement will enable their designs to be formally protected, allowing them to enter markets as valuable, tradable assets.

He also emphasized the symbolic importance of naming the convention the Riyadh Treaty, stating that it reflects Saudi Arabia’s growing influence as a bridge between cultures and a global center for innovative initiatives.

The treaty lays critical legal foundations to support designers and drive innovation worldwide, aligning with Saudi Arabia’s vision of promoting international collaboration in the creative industries and underscoring its leadership in building a sustainable future for innovators.

The agreement also advances global efforts to enhance creativity, protect intellectual property, and stimulate innovation on a broader scale.

This achievement further strengthens Saudi Arabia’s position as a global hub for groundbreaking initiatives, demonstrating its commitment to nurturing creativity, safeguarding designers’ rights, and driving the development of creative industries on an international scale.

The Riyadh Diplomatic Conference, held from November 11 to 22, was hosted by the Saudi Authority for Intellectual Property and attracted high-ranking officials and decision-makers from WIPO member states.